Wednesday, 16 March 2016

Tidy Books increases value X3 - Crowdcube ecstatic!


Tidy Books are back on Crowdcube. In 2013 they were valued at £600k.

Now their pre money valuation is £2m.

So investors are holding street parties to celebrate their X3 return.

Progress has to have been very good then.

No.

Projected t/o for 2015 was £1.6m with a healthy profit of £170k. According to the new pitch the actual turnover was a mere £428k with a small loss. As ever, all the old projections have been consigned to waste paper.

According to the projections from the previous raise, the YE August 2013,  the actual T/o was £413k so growth over the period has been zero. Reading the current Crowdcube pitch you would think they had come in on budget since 2013.

If you really believe that this performance is worth £2m then good luck to you.  To back the new projections you are going to need a lot of faith.


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